El Salvador already lost over $35 million in investments. The country blames current market conditions and the Ukraine conflict for the postponement. El Salvador’s Finance Minister Alejandro Zelaya said the Bitcoin (BTC) bond launch will be postponed due to difficult market conditions caused by the ongoing Russia-Ukraine conflict and overall
El Salvador is the first country to adopt BTC as a legal tender. Bitcoin laid out the map of ‘Bitcoin City’ on May 10. President Nayib Bukele announced on Twitter that El Salvador is meeting up with 44 countries on Monday. 32 central banks and 12 financial authorities across the
When it comes to acquiring Bitcoin, El Salvador follows a “buy the dip” approach. This is the country’s lowest-cost purchase to date. El Salvador, known as the Bitcoin nation, recently stated that it had acquired 500 BTC at an average price of $30,744 per coin, totaling approx. $15.4M. President Nayib
The government said on Tuesday that it was postponing the issue of bitcoin bonds. Bitcoin has been up 2.19% in the last 24 hours. According to El Salvador’s ambassador to the United States, the Central American government is looking to the cryptocurrency exchange Binance for assistance in implementing bitcoin as
The Mexican Senator of Nuevo Leon plans to accept Bitcoin (BTC). Indira Kempis Proposes to legalize BTC as legal tender in Mexico. The Senator follows the footprints of El Salvador to adopt BTC. As the Mexican Senator, Indira Kempis is very eager to make the country a crypto-friendly space, she
Most of the site’s visitors were from the Central American isthmus before. El Salvador’s tourism has surpassed the projections, with 1.4 million visitors. As of September 2021, the introduction of Bitcoin (BTC) as a legal currency in El Salvador has significantly increased GDP and tourist growth. According to Salvadoran Tourism
Despite reports that Ukraine is considering legalizing cryptocurrency and the possibility of conflict breaking out between Russia and Ukraine, the global crypto market has continued to trade downward. The global cryptocurrency market capitalization had fallen 2.66 percent to $1.82 trillion. Moreover, with a total value of $61.88 billion, the crypto
The country’s Treasury acquired another 410 Bitcoins. Right now, the Central Bank of El Salvador has almost 1400 BTC on hand. On Saturday, the 22nd of January, the wider cryptocurrency market was down 8%. Investors have lost more than $350 billion in the crypto market so far on the second
The House of Representatives will get the bill by September or October. Considering long-term savings, the concern is Bitcoin’s benefits in remittances. Former Tonga MP Lord Fusitu’a has stated that the country’s legal tender law for Bitcoin is “modeled on” and “almost identical” to El Salvador, which has enacted a
Bitfinex is the bookmaker for the bonds. With a yield of 6.5 percent, the bond would be worth $1 billion. El Salvador became the world’s first country to recognize Bitcoin as legal cash in 2021 under President Nayib Bukele. Thanks to the legislation, volcano Bonds, a $1 billion Bitcoin bond
